Citizens Financial Group Inc. RI Increases Stake in Pfizer Inc. (NYSE:PFE)

Key Points

• Citizens Financial Group Inc. RI increased its stake in Pfizer by 17.1% during Q1, acquiring an additional 57,380 shares, bringing its total holdings to 392,043 shares valued at approximately $9.93 million.
• Analysts have adjusted their ratings on Pfizer, with TD Cowen lowering its target price from $32.00 to $28.00, and several other firms providing "neutral" ratings, resulting in an average rating of "Moderate Buy" with a consensus price target of $28.28.
• Pfizer announced a quarterly dividend of $0.43 per share, expected to be paid on September 2nd, representing an annualized dividend yield of 7.0% with a payout ratio of 124.64%.

Citizens Financial Group Inc. RI lifted its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 17.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 392,043 shares of the biopharmaceutical company's stock after purchasing an additional 57,380 shares during the quarter. Citizens Financial Group Inc. RI's holdings in Pfizer were worth $9,934,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PFE. Clarity Asset Management Inc. purchased a new position in Pfizer during the 4th quarter valued at $27,000. Gould Capital LLC boosted its stake in shares of Pfizer by 97.2% during the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 493 shares during the period. North Capital Inc. purchased a new stake in shares of Pfizer in the first quarter valued at approximately $28,000. Bayforest Capital Ltd bought a new position in Pfizer in the first quarter worth approximately $28,000. Finally, Bernard Wealth Management Corp. bought a new stake in Pfizer during the 4th quarter valued at $30,000. Institutional investors own 68.36% of the company's stock.

Pfizer Stock Performance

PFE stock traded up $0.32 during midday trading on Thursday, reaching $24.25. The stock had a trading volume of 45,468,611 shares, compared to its average volume of 46,190,364. The firm has a fifty day simple moving average of $24.42 and a two-hundred day simple moving average of $24.52. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $30.43. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.96 and a current ratio of 1.16. The stock has a market cap of $137.85 billion, a PE ratio of 12.90, a P/E/G ratio of 0.87 and a beta of 0.52.

Pfizer (NYSE:PFE - Get Free Report) last released its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.20. Pfizer had a return on equity of 21.42% and a net margin of 16.84%. The firm had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $13.43 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. The company's revenue was up 10.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a yield of 7.1%. Pfizer's payout ratio is currently 124.64%.

Analysts Set New Price Targets

A number of analysts recently weighed in on PFE shares. UBS Group upped their price objective on shares of Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Jefferies Financial Group increased their price objective on shares of Pfizer from $32.00 to $33.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Morgan Stanley boosted their price objective on shares of Pfizer from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Bank of America lifted their price target on Pfizer from $27.00 to $28.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, The Goldman Sachs Group upped their price objective on Pfizer from $25.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.44.

About Pfizer

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.